MPC Container Ships ASA revises FY 2021 guidance and publishes container market and operational update

Rhea-AI Summary

MPC Container Ships ASA announces a revision of its FY 2021 revenue and EBITDA guidance due to strong container market dynamics. The company expects revenues between USD 230m and 260m, with EBITDA projected at USD 120m to 140m. This outlook is based on approximately 80% fixed operating days charter coverage and USD 193m in contracted charter revenue. However, the guidance comes with risks and uncertainties that could significantly impact actual future financial performance.

Positive

• Revised FY 2021 revenue guidance of USD 230m - 260m.
• Revised EBITDA guidance of USD 120m - 140m.
• Approximately 80% fixed operating days charter coverage.

Negative

• Guidance subject to significant risks and uncertainties.
• Potential for actual performance to vary materially from outlook.

OSLO, Norway, April 12, 2021 /PRNewswire/ -- Reference is made to the stock exchange announcement by MPC Container Ships ASA (the "Company", together with its subsidiaries the "Group") on 25 February 2021 in relation to the release of the Group's Q4 and twelve-month 2020 financial results. As a consequence of persistently strong container market dynamics, management has revised its FY 2021 revenue and EBITDA guidance. Subject to certain assumptions, management currently expects revenues in the range of USD 230-260m and EBITDA in the range of USD 120-140m.

The above indication is based on ~80% fixed operating days charter coverage for FY 2021, reflecting ~USD 193m in contracted charter revenue. Please also note that the above indication is subject to assessments of the current macroeconomic and charter market environment. Accordingly, this indication involves a number of risks and uncertainties, and the actual future financial performance of the Company may vary significantly from the present outlook.

In lieu of the aforementioned strong markets for global container tonnage, the Company today published a container market and operational update. The update is enclosed herewith.

Further information and contact:

For further information, please contact ir@mpc-container.com.

About MPC Container Ships ASA:

MPC Container Ships ASA (ticker code "MPCC") was formed in April 2017. Its main activity is to own and operate a portfolio of container ships serving intra-regional trade lanes. The Company is registered and has its business office in Oslo, Norway. For more information, please see our website: www.mpc-container.com.

Forward-looking statements:

This announcement includes forward-looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management's current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company's regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.

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https://news.cision.com/mpc-container-ships-asa/r/mpc-container-ships-asa-revises-fy-2021-guidance-and-publishes-container-market-and-operational-upda,c3323166

The following files are available for download:

https://mb.cision.com/Public/17513/3323166/902331eb813efc81.pdf

210412 MPCC - Container Market Operational Update

 

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SOURCE MPC Container Ships ASA

FAQ

What is the revised revenue guidance for MPC Container Ships ASA in FY 2021?

The revised revenue guidance for MPC Container Ships ASA in FY 2021 is expected to be between USD 230 million and USD 260 million.

What EBITDA does MPC Container Ships ASA expect for FY 2021?

MPC Container Ships ASA expects EBITDA for FY 2021 to range from USD 120 million to USD 140 million.

What factors influence MPC Container Ships ASA's FY 2021 guidance?

The FY 2021 guidance for MPC Container Ships ASA is influenced by strong container market dynamics and approximately 80% fixed operating days charter coverage.

What are the risks associated with the guidance provided by MPC Container Ships ASA?

The guidance provided by MPC Container Ships ASA is subject to significant risks and uncertainties, which could lead to actual performance differing materially from the forecast.

How much contracted charter revenue does MPC Container Ships ASA have for FY 2021?

MPC Container Ships ASA has approximately USD 193 million in contracted charter revenue for FY 2021.